Abuja, July 30, 2010 (NAN) The Minister of Mines and Steel Development, Mr Musa Sada, has inaugurated a Committee on the Review of the Draft Minerals and Mining Regulations .
The minister said on Thursday that a holistic reform of the legal framework guiding the minerals and mining industry operations in Nigeria would be carried out.
``Our principal focus is to ensure that the practice in our mining industry conforms with the world's best practices as we make transparency our watch-word," he said.
Sada added that the legal framework was incomplete without the mining regulations that draw its strength from the Mining Act 2007.
He charged committee to review all previous exercises to provide a final draft copy consistent with the provision of the principal Act.
According to him, effort in developing the sector is attracting international interest and support.
Chairman, of the committee, Mr Idris Umar, assured the minister that they would complete the assignment on schedule.
``We realise that the task before us is enormous, demanding and very challenging.
``We will utilise the synergy derivable from team work in getting the assignment executed within the time frame," he assured.
The News Agency of Nigeria (NAN) reports that the 13-member committee has two weeks to complete its assignment.
Its terms of reference include; to critically review the draft mining regulations withdrawn by the Federal Ministry of Justice.
It is also expected to identify areas of conflict between the Act and draft regulations and ensure that the
regulations are consistent with the Act.
Others include to plan and work out logistics for convening a stakeholder’s forum aimed at subjecting the draft regulations to a thorough contribution by stakeholders. (NAN)
HS/DUA/IEA/HKO